Apollo Global Management has agreed to acquire a minority stake in The GoodLife Group, valuing Canada’s largest fitness club operator at approximately CND2bn, according to a report by Reuters.
The transaction marks the first time GoodLife has taken on external equity capital since its founding in 1979 by David Patchell-Evans, who will remain chairman and retain an ownership stake following completion.
Apollo is reportedly making the investment through funds and affiliates associated with its hybrid strategies platform. The capital is designed to help support GoodLife’s long-term growth strategy and strengthen its position in the Canadian fitness market. Based in London, Ontario, GoodLife operates more than 400 clubs and serves around 1.5m members through brands including GoodLife Fitness, Fit4Less, GYMVMT and Éconofitness.
